Can I retire at age 66 with 1,340,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$110,656$109,670$108,709$107,770$106,853$105,826
2 years$54,780$53,760$52,771$51,813$50,883$49,847
3 years$36,157$35,133$34,146$33,197$32,282$31,271
4 years$26,848$25,826$24,850$23,916$23,024$22,045
5 years$21,263$20,248$19,285$18,370$17,502$16,559
6 years$17,542$16,534$15,585$14,691$13,849$12,942
7 years$14,885$13,885$12,951$12,078$11,263$10,393
8 years$12,893$11,902$10,983$10,132$9,344$8,510
9 years$11,344$10,363$9,460$8,630$7,869$7,072
10 years$10,106$9,135$8,248$7,439$6,705$5,943
11 years$9,093$8,132$7,261$6,474$5,766$5,040
12 years$8,250$7,299$6,444$5,679$4,997$4,306
13 years$7,538$6,596$5,757$5,014$4,357$3,700
14 years$6,927$5,996$5,173$4,451$3,820$3,195
15 years$6,399$5,477$4,670$3,969$3,363$2,771
16 years$5,937$5,025$4,234$3,554$2,972$2,411
17 years$5,529$4,628$3,853$3,193$2,635$2,104
18 years$5,168$4,276$3,517$2,878$2,343$1,841
19 years$4,845$3,963$3,220$2,600$2,089$1,615
20 years$4,554$3,683$2,955$2,355$1,866$1,418
21 years$4,292$3,430$2,718$2,137$1,670$1,248
22 years$4,053$3,202$2,505$1,943$1,496$1,100
23 years$3,836$2,995$2,313$1,770$1,343$970
24 years$3,637$2,806$2,139$1,614$1,207$857
25 years$3,455$2,633$1,981$1,474$1,086$758
26 years$3,286$2,475$1,838$1,348$979$671
27 years$3,131$2,329$1,706$1,234$882$594
28 years$2,987$2,195$1,586$1,130$796$526
29 years$2,853$2,071$1,476$1,037$719$466
30 years$2,728$1,955$1,375$951$650$414
31 years$2,611$1,849$1,282$874$587$367
32 years$2,502$1,749$1,196$803$531$326
33 years$2,400$1,656$1,117$738$481$289
34 years$2,304$1,570$1,043$679$435$257
35 years$2,213$1,489$976$625$394$228
36 years$2,128$1,413$913$576$357$203
37 years$2,048$1,342$854$531$324$180
38 years$1,972$1,276$800$489$294$160
39 years$1,900$1,213$749$451$266$143
40 years$1,832$1,154$702$416$241$127
41 years$1,767$1,099$659$384$219$113
42 years$1,706$1,046$618$354$199$100
43 years$1,648$997$580$327$180$89
44 years$1,592$950$544$302$164$80
45 years$1,539$906$511$279$149$71
46 years$1,489$864$480$258$135$63
47 years$1,441$825$451$238$123$56
48 years$1,394$788$424$220$111$50
49 years$1,350$752$398$203$101$44
50 years$1,308$718$374$188$92$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,340,000, adding $5,192 every year, while hoping to spend $58,625 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 46/31/23 Blend
65$1,340,000$1,340,000$1,340,000$1,340,000
66$1,482,036$1,411,016$1,390,246$1,540,216
67$1,570,827$1,417,779$1,374,442$1,588,398
68$1,666,710$1,422,909$1,356,145$1,634,458
69$1,770,346$1,426,263$1,335,207$1,683,249
70$1,882,462$1,427,691$1,311,478$1,735,053
71$2,003,858$1,427,033$1,284,797$1,790,185
72$2,135,412$1,424,118$1,254,998$1,848,997
73$2,278,090$1,418,765$1,221,907$1,911,877
74$2,432,955$1,410,784$1,185,340$1,979,258
75$2,601,174$1,399,971$1,145,107$2,051,622
76$2,784,033$1,386,109$1,101,008$2,129,503
77$2,982,947$1,368,971$1,052,834$2,213,493
78$3,199,471$1,348,313$1,000,367$2,304,251
79$3,435,316$1,323,880$943,378$2,402,507
80$3,692,367$1,295,398$881,630$2,509,070
81$3,972,696$1,262,581$814,872$2,624,840
82$4,278,586$1,225,122$742,845$2,750,811
83$4,612,548$1,182,699$665,277$2,888,087
84$4,977,346$1,134,970$581,882$3,037,891
85$5,376,025$1,081,573$492,365$3,201,579
86$5,811,936$1,022,126$396,415$3,380,652
87$6,288,767$956,224$293,709$3,576,770
88$6,810,581$883,439$183,908$3,791,774
89$7,381,852$803,319$66,661$4,027,701
90$8,007,506$715,386$0$4,286,806
91$8,692,966$619,135$0$4,585,930
92$9,444,207$514,031$0$4,931,876
93$10,267,808$399,510$0$5,311,418
94$11,171,015$274,978$0$5,728,037
95$12,161,810$139,803$0$6,185,571
96$13,248,984$0$0$6,688,261
97$14,442,220$0$0$7,243,064
98$15,752,184$0$0$7,904,655
99$17,190,625$0$0$8,631,295
100$18,770,487$0$0$9,429,545